GST kitty rises 12% to Rs1.57 lakh crore

New Delhi: GST collection in May rose 12 per cent to Rs1.57 lakh crore, the Union Finance Ministry said on Thursday. The gross Good & Services Tax (GST) revenue collected in the month of May 2023 is Rs1,57,090 crore of which Central GST is Rs 28,411 crore, State GST is Rs35,828 crore, Integrated GST is Rs81,363 crore (including Rs41,772 crore collected on import of goods) and Cess is Rs11,489 crore (including Rs1,057 crore collected on import of goods).

“The revenues for the month of May 2023 are 12 per cent higher than the GST revenues in the same month last year,” the ministry said in a statement.

During the month, revenue from import of goods was 12 per cent higher and the revenues from domestic transactions (including import of services) are 11 per cent higher than the revenues from these sources during the same month last year. Goods and Services Tax (GST) collection in May last year was about Rs1.41 lakh crore. Last month, GST collection was at a record high of Rs 1.87 lakh crore.